NEW
Font size
WorksheetsUNHS - Personal Finance - Self check 14
Total questions: 10
Worksheet time: 5mins
A certified used car is sold
by a private owner.
by a private seller.
by a dealership.
at an auction.
Depreciation is
a decrease in value as a result of use and age.
the amount of time a used car is under warranty.
the amount of interest included in a finance charge.
the amount of time it takes to repay a car loan.
The unique number assigned to a car is the
warranty.
vehicle identification number.
inspection number.
money factor.
Which law requires that a seller or manufacturer repair or replace a defective new vehicle or refund the
purchase price?
Truth in Lending Act
lemon law
Magnusson-Moss Warranty Act
the USA Patriot Act
In which stage of the decision-making process should you determine your price range?
Evaluate the decision.
Act on the decision.
Define the decision to be made.
Explore all alternatives.
In which stage of the decision-making process should you negotiate a price?
Explore all alternatives.
Make a choice.
Act on the decision.
Evaluate the decision.
In which stage of the decision-making process do you define what you want and need in a car?
Define the decision to be made.
Evaluate the decision.
Make a choice.
Act on the decision.
When you are negotiating the price of a car, you should
offer the sticker price.
offer less than the sticker price.
offer more than the sticker price.
let the seller make the first offer.
If a car if advertised as “AS-IS; NO WARRANTY,” it means
the SELLER is responsible for all repairs.
the car has undergone a complete inspection.
the BUYER is responsible for all repairs.
buyer and seller split the cost of repairs.
Which three factors will determine your payments if you finance a car?
depreciation, capitalized cost, and capitalized cost reduction
capitalized cost, mileage limit, and money factor
depreciation, capitalized cost, and money factor
amount borrowed, interest rate, and repayment period
